Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Down 5.3% – Should You Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares traded down 5.3% on Thursday. The stock traded as low as $29.87 and last traded at $28.99. 40,276 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 536,004 shares. The stock had previously closed at $30.60.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CDNL shares. Oppenheimer reduced their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Stifel Nicolaus lowered their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Truist Financial cut their price objective on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Zacks Research lowered shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Cardinal Infrastructure Group Stock Performance

The stock has a market cap of $657.55 million and a PE ratio of 25.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The business has a 50 day moving average price of $31.36 and a two-hundred day moving average price of $50.51.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The firm had revenue of $226.93 million for the quarter. As a group, equities research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, Director Ivy Zelman acquired 12,647 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $39.61 per share, with a total value of $500,947.67. Following the purchase, the director directly owned 32,891 shares in the company, valued at $1,302,812.51. The trade was a 62.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leon Wood purchased 51,400 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the purchase, the director directly owned 51,400 shares of the company’s stock, valued at approximately $2,023,104. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several hedge funds have recently modified their holdings of the business. California State Teachers Retirement System purchased a new stake in Cardinal Infrastructure Group during the first quarter worth $28,000. Strs Ohio acquired a new stake in Cardinal Infrastructure Group in the first quarter valued at approximately $87,000. Round Rock Advisors LLC increased its position in Cardinal Infrastructure Group by 18.7% during the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock valued at $2,114,000 after buying an additional 3,541 shares in the last quarter. GatePass Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group during the first quarter worth about $274,000. Finally, Wasatch Advisors LP grew its stake in shares of Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after acquiring an additional 9,064 shares during the last quarter.

About Cardinal Infrastructure Group